Get Cash from Your Paid-Off Home—Unlock Your Equity with a Fast HELOC
Even if your mortgage is fully paid off, you can still tap into your home’s equity—no new mortgage required.
- Access $15k–$400k5navigates to numbered disclaimer from your mortgage-free home.
- No appraisal, no title, no ongoing fees.6navigates to numbered disclaimer
- Fully disbursed loan. Get approval in 5 minutes and funding in as few as 5 days.2navigates to numbered disclaimer
- Take additional draws as needed during the draw period.
- Get the funds you need to start that home improvement project, start a new business, or consolidate your debt.
- Lower fees and faster processing than a traditional cash-out refinance, which can take weeks to complete.*
Checking your rate will not impact your credit.3navigates to numbered disclaimer
Featured in
Mortgage-Free and Need Cash? Unlock Your Equity Online in Just 1-2-3 with a Figure HELOC
- 1
Complete our 100% online
applicationNo in-person appraisal needed and prequalification won’t
affect your credit score.3navigates to numbered disclaimer You’ll immediately see your
HELOC options. - 2
Get approved in 5 minutes,
funding in 5 days2navigates to numbered disclaimerBorrow from $15,000 to $400,0005navigates to numbered disclaimer with one-time
origination fee.6navigates to numbered disclaimer Easy online notary services in most locations
with expert support. - 3
Option to redraw up to 100%
Take advantage of the option to take additional draws
as needed.
Approval in 5 minutes, funding in as few as 5 days2navigates to numbered disclaimer
100% online application
Streamlined digital process. Get approved in 5 minutes with no impact on your credit score!3navigates to numbered disclaimer
Fixed rates1navigates to numbered disclaimer
The rate that applies to each draw is fixed at the time of the draw and won't change over time.
Flexible access to funds
Borrow $15,000 to $400,000 with a one-time origination fee.5navigates to numbered disclaimer As you repay the balance, you can withdraw money from the credit line, during the draw period, as you would with a credit card when you need it.
Lower closing costs
Figure’s fast HELOC eliminates many manual steps—like in-person appraisals—making it a smarter, more cost-effective way to access your home equity.
Compare your options
Discover why Figure’s HELOC is a better choice for paid-off homeowners needing funds faster and with flexible terms.
| Feature | Figure HELOC | Cash-Out Refinance |
|---|---|---|
| Paid-Off Home Friendly? | Yes – no existing mortgage required. Easily tap into equity you already own. | Yes, but you’ll be creating a brand-new mortgage losing the advantage of being mortgage-free. |
| Rate | Fixed1navigates to numbered disclaimer | Fixed |
| Access to Funds | Flexible - Access funds as needed during the draw period | Receive a lump sum at closing, with no flexibility to access additional funds later. No redraws allowed |
| Closing Costs | Generally lower than cash-out refinances* | Typically higher |
| Competitive Fees | Up to 4.99% origination fee with no hidden charges6navigates to numbered disclaimer | Up to 6%, often including title, appraisal, and closing costs* |
| Approval Time | Faster - Get approved online in 5 minutes! | Longer, involving a full mortgage application process |
| Fund Disbursement | Quickly - Often in as few as 5 days2navigates to numbered disclaimer | Usually 30-60 days** |
By far the BEST user experience
By far the BEST user experience out of all of the places I️ applied for! It was all over in 7 business days, I️ was FUNDED and little did I️ know, I️ would have a water pipe break the next week with damages in the thousands! I️ had the funds already! Thank you Figure! I️ recommend Figure over any other company for a HELOC or refinance!
Written by customer— Ty W.
The application process was relatively easy
Customer service was readily available to answer my many questions. I learned a few new things through the notary process, technologically advanced approach to closing...Overall it's been an interesting an innovative way to access the equity in my home without going through a Refi.
Written by customer— Ms. Murphy
Figure is GREAT!!
I applied for a refi with cash out [and a HELOC] with my bank. It took three weeks, to only be turned down. The process was slow, unreliable and frustrating. [With Figure], we knew within minutes. And within a few short days, the entire deal was done. Seriously, we could not believe it. It all happened so fast. It was a wonderful experience!! We will do our next loan with Figure.
Written by customer— Susan P.
Outstanding value
Outstanding value compared to the hidden cost of cash out refi. They wanted me to increase my mortgage balance by 110k to pull out 70k. 40k in fees??? Figure.com was fast, straight to the point, and fair for the HELOC. Thank you!
Written by customer— David D.
3024 Excellent Reviews on trust pilot
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